Articles/News

It’s the System Stupid !! Structural Crises and the Need for Alternatives to Capitalism, Hans Despain

http://monthlyreview.org/2013/11/01/its-the-system-stupid

On Thursday, December 13, 2012, The Guardian announced Queen Elizabeth finally received an answer to her question—“Did nobody see this coming?”—about the 2008 financial crisis.1 While she was touring the Bank of England, Sujit Kapadia, one of the bank’s economists, informed Her Majesty that financial crises are a bit like earthquakes and flu pandemics: rare and difficult to predict. An impressive answer indeed. Brilliant for its vagueness, spuriousness, and obtuseness.

Deflation: The Failed Macroeconomic Paradigm Plumbs New Depths of Self-Parody, by William Black NEP, UMKC

Patient bleeding out? Don’t treat the bleed; keep the crash cart nearby

Imagine you were a doctor in the ER when a patient was brought in presenting symptoms indicating a likely internal bleed. Here are the two critical questions you face.
Would you (a) find and stop the bleed or (b) wheel the patient off to a “recovery” room with instructions to alert the crash cart to be ready to try to revive the patient should he go into cardiac arrest due to the continued, untreated bleed?

The Return of Rentier Capitalism Welcome to Neo-Feudalism or By the Way, Where did I put that Pitchfork ?

Welcome to Neo-Feudalism or By the Way, Where did I put that Pitchfork ?I

Surviving Progress: Economic Policies is where it starts

in

http://www.maxkeiser.com/2013/11/worlds-best-economist-explains-all-in-8...

This is a segment of a full length BBC documentary under the title "Surviving Progress." Michael Hudson explains how the late Roman Empire caused the nominal Dark Ages, through asset stripping of both the Roman empire and every other nation it came in contact with. The early part of the Roman Empire was based upon a level of real democracy, and access to land for soldiers.

Steve Keen on the comparison of Keynes's Bancor against Sec US Treasury White's US Dollars as the global Reserve Currency

http://www.youtube.com/watch?v=FoLyd_Hq32Q#t=345

from Steve Keen
I was invited to give a speech on that topic to the Second Meeting of Ministers of Finance of the CELAC in Quito, Ecuador today (November 29 2013). In it I outlined Keynes’s Bancor proposal from Bretton Woods, explained why White’s plan was adopted instead, supported the proposal by Zhou Xiaochuan, the Governor of the Central Bank of China, to institute Keynes’s scheme, and proposed that Latin America could try a regional version of the same via the Bank of the South.

US President J.F.Kennedy and Federal Budgetary Policy, Posted by Mat Forstater, NEP Nov 22nd 2013

JFK and Federal Budgetary Policy

By Mathew Forstater

On this, the 50th anniversary of the assassination of President John F. Kennedy, we would do well to remind ourselves that another loss resulting from that fateful day was that of a progressive trend in leadership regarding federal budgetary policy. The points are expressed so clearly they require no interpretation or commentary.

President John Fitzgerald Kennedy
Commencement Address, Yale University, June 11, 1962

Interview by Bill Moyer of Yves Smith and Dean Baker.

The video seems to be the whole interview. It is worth a couple of years of economics coursework under a ordinary US university, imo.

https://www.youtube.com/watch?v=_-Uqk-Z3Cdk

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